BitDAO community asked Alameda to provide the on-chain address that promised not to be sold for 3 years
The BitDAO community issued a proposal asking Alameda to provide the on-chain address of the tokens that promised not to be sold for three years. If there is no response within 24 hours, the community will decide what to do with the 3362315 FTT.
Bybit CEO BEN said in the community that someone broke the promise and sold 100m BIT, and they may have been deceived. If Alameda sold 100m BIT, they could only get 30 million US dollars. If this behavior is indeed Alameda’s breach of commitment, it may mean some problems with the liquidity of Alameda and FTX.
Alameda CEO: busy at the moment but that wasn’t us, will get you proof of funds when things calm down https://t.co/HyHtlN0eh8
— Wu Blockchain (@WuBlockchain) November 8, 2022
Bybit’s exchange token BitDAO BIT suddenly plummeted 20% within an hour, and FTT has also dropped by 20%. In 2021, Alameda Research converted 3.36m FTT (1% of the total) to 100m BIT (1% of the total), but the two sides said that they will not sell within 3 years.
FTT suddenly plunged 14% in 1 hour, and SOL fell 14% in 24 hours. 1.9 million FTT ($44 million) was transferred from the Genesis OTC Desk to FTX 12 hours ago, but CZ said it was not Binance selling.
CZ said Binance has about $8 billion ETH in old wallets 1 & 2, “They are user assets. We are just the custodian”. This statement seems to imply that FTX does not store most user assets in cold wallets. SBF needs clarification/refutation.
FTX said it currently has 300 employees and “we have one of the highest revenue/profit/valuation per employee as any company in the world”. By comparison, Binance has more than 6,000 and is growing rapidly. Other exchanges of similar revenue also have more than 1,500 people.
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